Remarks before the Financial Stability Oversight Council: 2024 Annual Report
· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)
Summary written by Dark Majestic in its own words · topics: financial stability, payments, digital money and crypto-assets, growth, investment and productivity, technology, ai and cyber risk
GG · Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiRemarks before the Financial Stability Oversight Council: 2024 Annual ReportContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.
Why it mattersThe outgoing SEC chair warns that crypto non-compliance could spread risks to the wider system.
Problems raised- Non-compliance in crypto markets undermines trust.
- These risks could spread to the wider financial system.
- Clearing in Treasury markets needs better risk management.
Solutions proposed- Enforce existing securities laws in crypto markets.
- Expand central clearing of Treasuries.
- Monitor investment adviser trends with published data.
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